Pub. 1 2019-20 Issue 3

http://wvcar.com WVADA 32 A s dealers prepare for the day that they can reopen their showroom doors post COVID-19 shutdowns, many may feel uncertain about where to begin. As a follow-up to our 36-Point Checklist If Your Deal - ership is Mandated to Close, we have compiled a comprehensive checklist to run through if you receive approval to open your showroom back up for business. We encourage you to create your own action plan using these suggestions now, so that you will be ready to take quick action when the time comes. Inventory Management Conduct a physical inventory of every vehicle • New, used, loaners, trade-ins, lease returns and cus - tomers’ cars with open repair orders Ensure all dead batteries are charged, vehicles are clean and ready to drive off the lot Pull your new, used and wholesale vehicle inventory against current ManheimMarket Report (MMR) and used car values • Consider what to keep and what to get rid of, and ad- just pricing accordingly Analyze current inventory vs. incoming inventory to deter - mine how supply/demand is going to impact marketing pricing • Reach out to dealerships trying to get rid of inventory to increase your supply for pent up demand • Ensure all dealer tags are accounted for Sales Team Conduct sales meetings to sure up your team and help set expectations • Communicate any immediate operational changes • Be sure to answer any questions your team may have to set them at ease Ensure your team is ready to tackle any challenges (and op - portunities) ahead • Ensure salespeople understand the need for a more empa - thetic approach when communicating with customers • Consider additional phone and sales training If paused, re-launch any data/equity mining technology soft - ware and marketing Review deals sold prior to the shutdown and update the website with any new incentives that became available Schedule deliveries for vehicles sold during shutdown Ensure all DMV paperwork has been sent out for cars deliv - ered prior to shutdown • What deals need registration data confirmed by the state? • Who is driving on unregistered temporary tags? Conduct a Contracts in Transit (CIT) review and determine what contracts have been paid to the dealer and which are still outstanding • Collect any outstanding stipulations for unfunded deals • Determine if there are deals where paperwork needs to be re-signed Follow up on any outstanding payoffs on trade-ins Follow up on DealerTrack, RouteOne, or captive unapproved deals, holds and/or comments Conduct follow up calls to any sold customers who took de - livery before closing The 35-Point Checklist You Need For Reopening Your Dealership